Goldman Sachs stated that AI server, DRAM exports, and memory prices continued to provide support in August. AI demand is very strong, but mobile phone demand has weakened. Traditional DRAM prices are still rising, but the rate of increase is clearly slowing. Goldman Sachs expects the average selling price of DRAM to increase by 17% quarter-on-quarter in Q3 2026, and further decrease to about 7% in Q4 2026.
HBM is the part Goldman Sachs is most optimistic about. Market expectations for SK Hynix HBM price increases in 2027 rose from 32% to 53% in one month, while Goldman Sachs itself revised its expectation upward from 50% to 100%.
